Commerce Questions and Answers

Channel of distribution is a chain of businesses or intermediaries through which a good or service passes until it reaches the end consumer. It can include wholesalers, retailers, distributors, and even the internet

A distribution channel is the path through which products pass to get from the producer to the consumer

The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition.

The marketing concept is the strategy that firms implement to satisfy customer’s needs, increase sales, maximize profit and beat the competition.

The balance of payments is a summary of all monetary transactions between a country and rest of the world. These transactions are made by individuals, firms and government bodies. Thus the balance of payments includes all external visible and non-visible transactions of a country.

PLACE In the marketing mix, the process of moving products from the producer to the intended user is called place. In other words, it is how your product is bought and where it is bought. This movement could be through a combination of intermediaries such as distributors, wholesalers and retailers.

What is a Dishonored Cheque? A cheque is said to be honored, if the banks give the amount to the payee. While, if the bank refuses to pay the amount to the payee, the cheque is said to be dishonored. In other words, dishonor of cheque is a condition in which bank refuses to pay the amount of cheque to the payee. The cheque should have been returned or dishonored because of insufficient funds in the drawer's account

insufficient funds in the account is a major reason for dishonoring a cheque